the French income tax rate increases
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  the French income tax rate increases
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rob in cal
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« on: May 07, 2012, 10:33:29 AM »

    Assuming newly elected French President Hollande can actually get his income tax increases through the National Assembly we will see a great test case of how people react to a massive rate increase, albeit just a small amount of people.  He proposes to increase the 40% rate to 75% on all income above a million euros, (not sure where household size comes in on this though), and it will be fascinating to watch how big earners react.  I wonder how many of them there are, and how many make just into that million euro area and so wouldn't be too effected.  Also, how many might slack off a bit, once their rate jumps that high.
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opebo
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« Reply #1 on: May 07, 2012, 11:46:00 AM »

'Slack off a bit'?  You imagine that such people every do any toils at all?  What a fantasy!  They idly collect exactions from the working classes they control.

But I agree it is quite possible they will try to do their exploitation more by remote control from Monaco or Andorra, if they can't be stopped.
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rob in cal
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« Reply #2 on: May 07, 2012, 12:22:21 PM »

   I'd like to see a breakdown of income sources for those making one million or more per year.   In the US, earned income is a pretty substantial source of income for the top 1%, not just investment income.  Its the earned income portion in France that I'd guess will go down significantly if one saw a jump from 45% to 75% over a certain level.  The highest level now is 40% but Holland also proposes a raise of 40 to 45% and then the new rate of 75% above a million.
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opebo
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« Reply #3 on: May 07, 2012, 12:57:08 PM »

   I'd like to see a breakdown of income sources for those making one million or more per year.   In the US, earned income is a pretty substantial source of income for the top 1%, not just investment income.  Its the earned income portion in France that I'd guess will go down significantly if one saw a jump from 45% to 75% over a certain level.  The highest level now is 40% but Holland also proposes a raise of 40 to 45% and then the new rate of 75% above a million.

Nonsense.  What someone labels their income as at that this grand level is entirely up to the lord or lady in question.
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phk
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« Reply #4 on: May 08, 2012, 03:08:42 AM »

Set salaries at 999,999.99
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Miamiu1027
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« Reply #5 on: May 08, 2012, 10:37:44 AM »


why would that matter?
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opebo
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« Reply #6 on: May 08, 2012, 01:33:10 PM »


Yes, please start with mine...
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ag
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« Reply #7 on: May 08, 2012, 09:18:54 PM »


Do you really think there is a jump in tax liability once a threshold is reached? Smiley)
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Badger
badger
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« Reply #8 on: May 19, 2012, 10:07:24 AM »


I'm not sure you're clear on how progressive taxation works.....
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Torie
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« Reply #9 on: May 19, 2012, 11:11:47 AM »


I'm not sure you're clear on how progressive taxation works.....

You don't think that when you hit a million euros, suddenly your first million is taxed at 75%, implying a marginal rate for a band of income of some fantastic percentage like 5000% or something (I will let Muon2 do the maths on this one)?  Tongue
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opebo
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« Reply #10 on: May 19, 2012, 12:15:28 PM »

I don't see why people are jumping to the conclusion that phnk doens't understand progressive taxation - nothing in his post implied this.  He's just saying - don't pay people more than 1 million euros and they won't face the 75% incremental rate.  It is an admirable suggestion, though I can think of a better solution.
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🐒Gods of Prosperity🔱🐲💸
shua
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« Reply #11 on: May 19, 2012, 04:08:47 PM »


Do you really think there is a jump in tax liability once a threshold is reached? Smiley)
Instead of having one executive making 1.1 Mil and another making 700 K, they might even them out a bit so they're both below the 1 Million mark.  Companies might also set more salaries below one million and add more untaxed benefits. 
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Yelnoc
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« Reply #12 on: May 19, 2012, 11:16:39 PM »


Do you really think there is a jump in tax liability once a threshold is reached? Smiley)
Instead of having one executive making 1.1 Mil and another making 700 K, they might even them out a bit so they're both below the 1 Million mark.  Companies might also set more salaries below one million and add more untaxed benefits. 
Hurray for the stock option?

Sad
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Badger
badger
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« Reply #13 on: May 24, 2012, 10:24:20 PM »

I don't see why people are jumping to the conclusion that phnk doens't understand progressive taxation - nothing in his post implied this.  He's just saying - don't pay people more than 1 million euros and they won't face the 75% incremental rate.  It is an admirable suggestion, though I can think of a better solution.

No, his implication seemed to be that taxation at a million euros a year would cover the entire million euros.

Maybe not what he meant, but it's how it read.
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